Why is David Price guarenteed Bronze in the semifinal of the Boxing?

Question

If there are four fighters, and two lose, why is he the one that will get the bronze?

Answer 1

2 bronze medals are awarded in boxing

Answer 2

Because in many events, like boxing and wrestling, the losing semi finalists are both guaranteed a bronze- it avoids having an extra fight for bronze medal and some poor sod getting left with no medal at all.